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The UK and Switzerland have the best-value higher education systems in the world while the US languishes in 16th place, according to analysis of the 2011-12 Times Higher Education World University Rankings.

The rankings, unveiled today, also spring a surprise at the top, where Harvard University is dethroned by the California Institute of Technology. Caltech snatches first place thanks mainly to a 16 per cent rise in research funding.

In terms of overall number of institutions in the top 200, the US leads the way with 75, followed by the UK (32), Germany (12), the Netherlands (12) and Canada (9).

World Top 10 Universities

1. California Institute of Technology
2. Harvard University
3. Stanford University
4. University of Oxford
5. Princeton University
6. University of Cambridge
7. Massachusetts Institute of Technology
8. Imperial College London
9. University of Chicago
10. University of California, Berkeley

Asia Top 10 Universities

1. University of Tokyo
2. University of Hong Kong
3. National University of Singapore
4. Peking University
5. Kyoto University
6. Pohang University of Science and Technology (Korea)
7. Hong Kong University of Science and Technology
8. Tsinghua University (China)
9. Korea Advanced Institute of Science and Technology
10. Tokyo Institute of Technology

Sadly, none of Malaysian universities is listed in the world's top 400 or even in Asia top 100.

READ MORE AT TIMES HIGHER EDUCATION